## Bitwise Bitcoin-Ethereum ETF Obtains Provisional Consent from SEC
Bitwise Asset Management’s exchange-traded instrument, created to monitor both Bitcoin and Ethereum, has secured preliminary consent from the U.S. Securities and Exchange Commission (SEC).
According to a current update, the Bitwise Bitcoin and Ethereum ETF has passed its initial regulatory obstacle after its 19b-4 submission obtained “accelerated authorization.” It is currently awaiting a judgment on its S-1 registration, the last phase before trading may commence.
An S-1 registration is needed for providing new securities to the general public, whereas 19b-4 authorization enables exchanges to list and trade novel financial instruments. Toncoin (TON) Value Forecast for March 26th
Bitwise submitted an application for the ETF in November, intending to provide investors with exposure to both Bitcoin and Ethereum in a solitary instrument. The fund is designed to monitor the real-time costs of Bitcoin and Ethereum, with asset weights determined by their relative market capitalization.
As of the most recent submissions, the allocation is approximately 83% Bitcoin and 17% Ethereum. The ETF will determine these weights by multiplying each asset’s circulating supply by pricing benchmarks.
While this is the initial crypto ETP authorized under the new SEC leadership, it is the third combined Bitcoin and Ethereum ETF authorized by regulators.
The submission gained authorization by the initial deadline, most likely due to the fund’s structure being extremely comparable to previously authorized instruments such as the spot Bitcoin and Ethereum ETFs from Hashdex and Franklin Templeton.
The SEC stated that “the Trust’s structure, its operational terms, and the trading of its shares, as well as the statements made by the Exchange in the amended filing, are essentially comparable to those spot Bitcoin and spot Ethereum ETP proposals authorized in prior Commission orders.”
At this moment, Bitwise remains in line, anticipating approval for a few additional offerings. One such offering involves a Dogecoin ETF, for which they submitted documentation on January 29th. The second is a Bitcoin Standard Company ETF, conceptualized as an investment vehicle focused on firms holding substantial Bitcoin reserves, such as exceeding 1,000 BTC.
There’s an emerging sentiment that, with new leadership at the SEC and a potentially more accommodating perspective on cryptocurrencies from President Trump, we could witness greater receptiveness towards diverse crypto investment avenues. Consequently, enterprises are initiating explorations into ETFs that extend beyond solely Bitcoin and Ethereum.
Consider Tuttle Capital, as an illustration. They’ve entered the arena with a suite of ten distinct leveraged ETF instruments, each monitoring various alternative cryptocurrencies. These encompass familiar names like XRP and Solana, alongside meme-based currencies like Official Trump and Melania Meme. They aren’t isolated in this endeavor, as other entities such as Grayscale and Canary are also assessing altcoin-centric ETFs.
